Alberta power meter maker buys innovative Ontario magnetic trainer company
Two Canadian cycling technology companies are joining forces to offer an expanded line-up of training tools for cyclists. On Tuesday, Cochrane, Alta.-based power meter maker 4iiii acquired Waterloo, Ont.-based award-winning trainer manufacturer STAC. The acquisition brings together two companies developing performance tools for cyclists in Canada. The combined offerings of the companies will include power measurement, heart rate monitoring and indoor training.
STAC launched via Kickstarter in 2016 and have grown to sell their innovative trainers in 40 countries around the world. The STAC Zero and Zero Halcyon were developed by Ironman and mechanical engineer Andrew Buckrell. The trainers use magnetic currents that create resistance to offer a quiet indoor riding experience. In 2018, STAC won an award at Eurobike for its innovation, design and added value.
“We are happy to welcome STAC to the 4iiii family,” said 4iiii president and CEO, Kip Fyfe. “This extremely talented and creative team is a great fit with our company. I look forward to the big, bold ideas and to the growing portfolio of technologies that will come from this collaboration. We are excited to be expanding the tech footprint in Cochrane, Alberta with this Waterloo, Ontario acquisition.”
Fyfe has been developing performance tools for cyclists and working in the high tech and electronics industry for over 25 years. Prior to 4iiii, he was the founder and CEO of Dynastream which developed the ANT+ wireless sensor network. In 2006, Dynastream Innovations was sold to Garmin. In Cochrane, 4iiii develops dual- and single-sided power meters and the Viiiiva heart rate monitor to track and monitor cycling performance. The technology has been used at all levels of the sport including by professional riders in the UCI WorldTour.
“We have been simply blown away by the market’s response to the STAC Zero since we brought our trainer to market three years ago,” STAC CEO Buckrell said. “Joining 4iiii feels like the perfect marriage and presents us with a tremendous opportunity to grow.”
STAC will be moving its base of operations to Cochrane as part of the agreement.
Source: Canadian Cycling